Chinese Premier pledges support for firms to 'charge out into the world'

April 4, 2015 4:03 AM

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SHANGHAI (Reuters) - China plans to cut red tape and reduce costs for Chinese firms looking to spread their reach overseas to help boost growth and stave off a wider economic slowdown, according to a statement from the ruling State Council.

"This will help us withstand the downward economic pressure, and push China's development into new spaces," the statement, released late on Friday, quoted Premier Li Keqiang as saying at a meeting with officials and business leaders.